Most cell carriers provide a significant discount on brand new phones and upgrades once every two years. Re-sign a two-year contract and receive anywhere between a $100 – $350 dollar savings, depending on the device. Some of us, however, don’t find it necessary to upgrade every two years and simply save the discount.
But what if you could sell your discount and pocket that cash instead? Recently launched is UpgradeSwap.com, the first website that brings people together to buy and sell phone upgrades.
Sellers who have an upgrade available can list it and make up to a $250 profit per line. There are no seller fees, though many carriers charge $20 – $35 dollars for a phone upgrade. This can oftentimes be waived by asking store employees and letting them know you’re actually going to sell your upgrade and not use it.
An eligible seller will list an available upgrade and wait for a buyer first, eliminating any risks associated with purchasing a phone, extending the contract, and hoping to sell it for enough to make a profit.
All members – buyers and sellers – must be a PayPal Verified user with a confirmed address. This helps to eliminate fruad as well as provide consumer protection under PayPal’s services.
An interested buyer will choose the type of phone they want and pays the full price, plus an additional $20 dollar service charge to Upgrade Swap. Once the seller receives the money through PayPal, they have two days to purchase the phone and ship it to the buyer.
All phones must be new, unused, and have an attached store receipt. The site does offer some additional assistance to cover PayPal fees as well as shipping costs.
So in the end, the seller makes some extra cash for extending their contract with their provider. The buyer gets to have a brand new, contract-free phone and save some money as well. UpgradeSwap.com does away with searching through classified ads, meeting in person, or paying too much through online bidding, while also providing secure transactions.